lty firm Jaypee Infratech has surfaced over the takeover bid made by the erstwhile promoters of the bankruptcy-hit firm.

While two associations of home buyers wanted Manoj Gaur-led promoter group to take over the company and complete the unfinished housing units, nine different associations today came on a single platform to oppose any such move.

Last week, Jaypee Infratech’s lenders rejected the Rs 7,350 crore bid of Lakshwadeep, a joint venture between Sudhir Valia-led Suraksha Asset Reconstruction Company and Mumbai-based Dosti Realty, to acquire the company and complete all housing projects.

The Jaypee promoter submitted a bid of over Rs 10,000 crore to revive Jaypee Infratech.

However, the representatives of nine associations, claiming over 2,400 buyers members, said that Jaypee promoter should not be allowed to takeover Jaypee Infratech and rather a credible bidder should acquire the company to complete stuck housing projects in Noida.

“We do not have faith in Jaypee group and it should not be allowed to develop our projects,” said Aaditya Gutgutia, a lead volunteer of nine associations.

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